The first regional conference of the Gulf–Africa Strategic Partnership Initiative (GASPI) concluded today in Addis Ababa. The conference brought together high-level officials, policymakers, experts and representatives from Africa and the Gulf to discuss strengthening economic, trade and investment cooperation in climate finance.
The Executive Director of the Somali National Climate Fund and Head of the Secretariat of the Horn of Africa Initiative, Liiban Absiiye, attended the conference and actively participated in discussions on how to create a fruitful partnership between Africa and the Gulf countries, leading to sustainable investment, increased trade and mutually beneficial economic cooperation.
During the conference discussion, the Director stressed the need for African governments to clearly define their development goals and priorities in order to attract investment and capital from the Gulf countries. He also noted that investment should contribute to the development of economic infrastructure, social and environmental resilience, workforce development and human capacity development at national, regional and continental levels.
He also pointed out that investment in Africa requires partnerships built on trust, patience and foresight, to ensure sustainable results that benefit both parties.
On behalf of Somalia, the Minister of Finance of Somalia, Bihi Imaan Cige, Chairperson of the Horn of Africa Initiative, affirmed that Somalia will continue to work with all member countries of the initiative to strengthen regional trade integration, enhance private investment opportunities, and support the implementation of current and future development projects in collaboration with development partners.
The Executive Director of the Somali National Climate Change Fund, stressed the importance of financing efforts to combat the impacts of climate change. He noted that climate change poses serious challenges to the societies, livelihoods and economies of the Horn of Africa Initiative member countries, which require sustained cooperation and investment to strengthen social resilience and reduce future risks.
Finally, he thanked ODI, Gravitas, and the Institute of Foreign Affairs of Ethiopia for organizing this important meeting that promotes strategic cooperation between Africa and the Gulf countries.
